Cobra's Market View

SPY hasn't touched its weekly ema20 for 53 weeks, this is a new record. the previous record was 47 weeks.

It tells me 2 things:

• Usually after a long time no touch, the very first touch would be bought as people finally can buy at 20 week average price. So bulls should have no worry for now.

• No one can have no touch of moving average forever, so SPY should owe us a pullback.

Statistics about SPY down 2 weeks in a row. The next week has 62% chances to close up.

No stock picks for the next week. Here's the latest strong stocks count.
viewtopic.php?f=10&t=2682

Best dow stock by far this year is Boeing, BA, up +73.16% YTD (it’s been on a tear since the election).
Compare that with SPY up +17% YTD, and QQQ +30.85% YTD (not shown here).